The social media behemoth confirmed today it won't renew its deals with the company's news organisations and also said it will remove its Facebook News tab next month.
Facebook owner Meta has refused to continue paying for news in Australia, announcing it will end its deals with local publishers when they expire this year in a decision that news companies say blatantly ignores the value of their journalism.
Should the government 'designate' Meta as a digital platform subject to the code, it would be forced into arbitration, and face the possibility of fines if it does not compensate news publishers. "Regardless of the Meta announcement today, the value created on their platform from the use of Nine's IP is both unquestionable and growing and we strongly believe Meta should negotiate in good faith around the fair compensation for that value exchange.
"Meta's decision to no longer pay for news content in a number of jurisdictions represents a dereliction of its commitment to the sustainability of Australian news media. The government has made its expectations clear," they said. "We know that people don't come to Facebook for news and political content – they come to connect with people."
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